So there's this drunken-sailor-of-a-spender, his cards are maxed, he robs Peter to pay Paul, and, believe it or not, the bank's about to increase his credit limit... And what lender would be so profoundly stupid?
That would be us my friends... Remember, it's "of the people, by the people"... We the people elect the spendthrifts and, alas, as voters, our due diligence leaves much to be desired... The problem is today's ELECTED officials, understanding the political expediency of entitlements (etc.), take Lincoln to have meant; "of the people, buy the people"...
The Next Bailout
The U.S. Postal Service lost $2bill last quarter, is about to exhaust a taxpayer-funded $15bill credit line (we'll never see it) and projects that it'll lose $42bill over the next ten years...
Now of course we're talking pay cuts, layoffs, etc., right? I mean, according to their employer, postal workers are way over-paid compared to their private-sector counterparts, and they contribute substantially less than private workers to healthcare, etc... HAHA.... We're talking a 3.5% pay raise, a new four-and-a-half-year contract, automatic cost of living increases and expanding no-layoff protections...
But not to worry, the Postal Service and unions are pushing for a pay-as-you-go system, like California's... And there's a senate bill in the works that'll saddle the taxpayer with another $50-$75bill to insure retired employee pension obligations...
I hope you appreciate your snail mail - cause it's costing you a hell of a lot more than forty-four cents a letter...
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